Overview

Source of Fate Properties is a UAE-based luxury real estate developer established in 2021, focused on creating high-end residential communities in prime waterfront locations with innovative architectural design, lifestyle-enhancing amenities, and strong investment potential. The company’s development pipeline across the UAE is valued at approximately AED 10 billion, reflecting ambitions that include major projects in Ras Al Khaimah and Dubai.

Led by founder Dr. Majid Jack Hsiung, Source of Fate has quickly built a reputation for blending refined design, sustainability, and luxury living, and has received industry recognition including awards for architectural design and visualization.

Key Facts & Numbers 

• Founded: 2021, United Arab Emirates

• Headquarters: UAE (Dubai/Ras Al Khaimah focus)

• Pipeline Value: ~AED 10 billion+ in UAE real estate projects

• Primary Focus: Waterfront luxury residential developments

• Major RAK Projects: Sunshine Bay, Miraggio on Al Marjan Island

• Design & Awards: Multi-award architectural accolades including Luxury Lifestyle Awards and Muse Design Awards (2024–2025).

Projects in Ras Al Khaimah (Al Marjan Island)

1. Sunshine Bay

Sunshine Bay is a luxury waterfront residential development on Al Marjan Island, offering premium seafront apartment living with resort-style amenities and breathtaking views of the Arabian Gulf.

Project Details

• Location: Central islet, Al Marjan Island, Ras Al Khaimah — within walking distance to the future Wynn Resort.

• Type: 12-storey luxury coastal residential tower.

• Units: ~240 residences (studios, 1-bedroom, 2-bedroom).

• Architectural Inspiration: Sailboat-inspired silhouette and organic forms that blend with the coastal landscape.

• Starting Price: ~AED 980,000+ for studio units.

• Handover: Q1 2027 scheduled.

• Amenities: Infinity pool, gym, spa, steam rooms, saunas, outdoor yoga & fitness areas, kids’ pool and playground, BBQ garden, business lounge, billiard room, sun decks and tropical gardens.

Sunshine Bay is positioned as a premier seafront lifestyle address in RAK, appealing to both investors and end users seeking luxury waterfront living with resort-style features close to Wynn Resort and major island attractions.

2. Miraggio

Miraggio is a large-scale luxury residential complex designed to redefine waterfront living on Al Marjan Island.

 Project Details

• Location: Central islet, Al Marjan Island, Ras Al Khaimah — overlooking the Arabian Gulf.

• Project Value: ~AED 2.6 billion — one of the most significant luxury developments on the island.

• Units: 810 residences, including studios and 1–3-bedroom apartments.

• Design: Sculptural architectural form inspired by the flow of the sea, with cascading terraces and panoramic water views.

• Size Range: Units from ~420 sq.ft (39 m²) up to ~3,026 sq.ft (281 m²).

• Amenities: Infinity pool, tropical gardens, gym, kids’ pool & playground, paddle courts, running track, waterfront promenade, retail podium, wellness facilities and private beach lounges.

• Payment Plan: Typically 60/40 with 24-month post-handover flexibility.

• Handover: Expected Q4 2028.

Miraggio’s scale and architectural prominence make it a landmark address on Al Marjan Island, designed for residents seeking both luxury lifestyle living and strong long-term investment potential.

Presence Outside RAK & UAE

 International Presence

As of now, Source of Fate Properties operates primarily within the UAE, with a development pipeline focused on Ras Al Khaimah (Al Marjan Island) and future planned projects across other UAE emirates such as Dubai. Its strategy and brand positioning are UAE-centric, and there are no officially confirmed project developments outside the UAE publicized on the company’s website or major real estate news sources.

 UAE & RAK Focus

• Sunshine Bay and Miraggio are the main completed or active projects on Al Marjan Island, Ras Al Khaimah — both designed as luxury waterfront residential communities with resort-style amenities.
  
  

• Source of Fate’s overall development pipeline is valued at ~AED 10 billion+ and concentrates on upscale residential opportunities within strategic UAE locations such as Ras Al Khaimah and Dubai.
  
  

Dubai & Broader UAE Pipeline

While Source of Fate has not yet publicly launched fully completed projects outside RAK, the developer:

• Has stated plans to expand its project rollout across other premium UAE destinations, including Dubai.

• Has already earned industry awards for architecture and design excellence, further strengthening its credibility for future, larger-scope developments within the UAE market.

International Buyer Base (Indirect Presence)

Although the developer’s projects are physically in the UAE, Source of Fate has strong international buyer engagement — an important point for global investor appeal:

• For Miraggio, ~80 % of buyers are from overseas, with significant interest from investors in the United Kingdom, Turkey, Poland, France, the United States, and India. This global investor participation effectively gives Source of Fate an international market footprint through sales demand rather than physical projects abroad.

This means:
✔ The reach of Source of Fate’s projects extends internationally through investor demand and global sales channels,
✔ Even though its developments are located in the UAE, many investors from Europe, North America, and Asia are actively purchasing in its flagship Ras Al Khaimah properties.

Market Position & Strength

Source of Fate holds a rapidly growing presence in the UAE luxury residential segment by:

• Targeting prime waterfront locations with projects that offer resort-style amenities and high-end design.

• Building a portfolio valued at ~AED 10 billion across the UAE, indicating financial strength and strategic growth capacity.

• Receiving international design and architecture awards, reinforcing its commitment to aesthetic excellence and market recognition.

• Partnering with global consultants and agents like Savills to reach broader investor audiences.

While Source of Fate is younger than legacy developers, its high-end design focus and waterfront project concentration position it as one of the most dynamic luxury developers currently emerging in RAK’s property market.

Why Buyers & Investors Choose Source of Fate

✔ Prime waterfront addresses with direct sea views and proximity to major island developments like Wynn Resort.
✔ Resort-style amenities appealing to both end users and rental investors.
✔ Flexible payment plans with post-handover options supporting investor cash flow.
✔ Award-winning architectural design and international recognition.
✔ Large-scale, high-spec projects (Miraggio and Sunshine Bay) aligned with RAK’s tourism-led real estate